TAMPA, Fla. — Whether you’re sending your student off to college soon or preparing to do so in the future, families are having to deal with the high cost of tuition.
Financial experts shared steps families can take to help ease the pain of paying for school.
With summer winding down, you can feel the excitement on college campuses for a new school year.
"I'm so pumped,” said Abbie Mauro, a University of South Florida freshman. “I've always kind of been looking forward to it, especially ready for the change after high school. Ready to be more on my own, more freedom, meet more people."
Mauro also recognizes that education comes at a cost.
“My dad really pushed me to get Bright Futures. That was definitely the biggest thing. I took the SAT like three, four times,” said Mauro. “That was definitely the biggest thing was getting Bright Futures to help us pay.”
Freshman Ethan Haines understands it too.
"Florida was just my main option just because of Prepaid and Bright Futures, so Tampa just fit me, so that's where I decided to go,” said Haines.
The sticker shock of a college education may not come as much of a surprise anymore.
The Education Data Initiative said the average cost of college has more than doubled in the 21st century, with an annual growth rate of two percent over the past ten years.
Education Data Initiative research found that the average in-state student attending a public, four-year institution spends about $26,000 for one academic year.
“FAFSA form is the first thing we encourage them to do. The second one, if they live in the state of Florida, is to look at Florida Bright Futures,” said Adam Taylor, the owner and founder of Taylor Financial.
Taylor said there are a lot of grants available for students, and the first thing to do is fill out a FAFSA form.
"It's quick and it'll tell you. It'll give you what is called a SAR report, and it'll tell you if you qualify for any grants and or potentially scholarships,” said Taylor.
Education Data Initiative pointed out that71 percent of college-bound students seek federal aid to pay for college.
Taylor said scholarships.com is another resource.
“Coca-Cola has a scholarship. The Gates Foundation has a scholarship. So there’s all these scholarships out there that don't necessarily pertain just to Florida that students may be eligible for," said Taylor.
The average federal student loan debt balance is more than $37,000, according to the Education Data Initiative.
If you’re going the student loan route, Taylor said to be mindful of how much you take out.
